Brazil's Foreign Minister Celso Amorim said Wednesday that the upcoming summit of the Common Market of the South (Mercosur), will allow ministers of member states to prepare coordinated measures against the international financial crisis.
Amorim said that at the summit, all participating ministers of the regional bloc should explain their countries' situation, to facilitate the formulation of a joint response to the crisis.
Even if they fail to figure out a coordinated response, thanks to their communication, individual countries' situation will become more transparent to each other.
The emergency meeting, due to take place next Monday in Brasilia, was proposed by Brazilian President Luiz Inacio Lula da Silva, who currently holds the rotating Mercosur presidency.
Foreign ministers, economic and treasury ministers of Brazil, Argentina, Uruguay and Paraguay will attend the meeting. Representatives from Mercosur's associated members as well as Suriname and Guyana will also attend the meeting.
Amorim stressed the importance of strengthening the relations among Mercosur countries at the moment of crisis. He said integration reduces the crisis' impact on the group.
Mercosur was founded in 1991 by Brazil, Argentina, Uruguay and Paraguay. Venezuela signed a membership agreement in 2007 but is yet to complete the process of full accession.
The bloc's associated members include Bolivia, Chile, Colombia, Peru and Ecuador.
Source:Xinhua
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